FREE MONEY!…well almost. If your credit is good you may qualify for a historically low interest rate around 4.25%. After you itemize and take the mortgage deduction your net interest expense is near 3.5%, which is lower than the current rate of inflation. In other words, if you put your money under the mattress it will devalue by 3.9% (current rate of inflation).

Put your money to work. Ultra low interest rates when coupled with great inventory make this the best time to purchase property. In many areas it is now less costly to purchase than it is to rent a comparable home.

Ralph White, Realtor at Prudential Page Realty, Medfield, MA

It’s official! Prudential Page Realty and I will be marketing Balancing Rock, an over 55 community in Holliston, MA. Additionally we are marketing The Village at Rivers Edge in Norfolk, MA. If you, or someone you know, is interested in active adult communities please contact me for a tour of these quality homes.

Prudential Page Realty, Medfield MA 508-359-2331, ask for Ralph White

Interest rates hit an all-time low of 4.49% last week. If you are selling and moving up or down-sizing you win on both sides of the equation. More buyers are now qualified to purchase your present home therefore increasing your chance of a sale and you have more purchasing power and lower payment on your new home. So…what are you waiting for?

By Ralph White
Prudential Page Realty

Turn on any financial news program and at some point you’ll hear the experts extolling the virtues of diversification. Real estate, even through the market downturn, has long been considered a conservative, long-term strategy to growing wealth.
In fact, that very downturn has created a historic buying opportunity for potential homebuyers and investors alike. The combination of lower home prices across American and historically low mortgage rates, two essential factors that usually don’t trend in the same direction, have triggered a buyer’s market in many areas of the country. For real estate investors who want to rent their properties, this can make the difference in achieving positive cash flow sooner or right off the bat.
While some seasoned real estate investors make it look easy, to be successful, beginners should follow some basic principles.
 Learn all you can. Before committing your cash, you should have a fundamental understanding of real estate. For example, be aware that, in general, investment properties are not liquid investments. Barring exceptional circumstances, real estate does not sell at a moment’s notice. It could take days or months to sell a property, depending on the strength of the market in a particular region.
 Consider cash flow. You’ll need to have enough capital on hand to cover any short-term losses due to vacancies between tenants.
 Start small. Look into buying a condominium, single-family home or a duplex. Leave large apartment buildings and commercial properties to the pros.
 Inquire at the local Chamber of Commerce about companies relocating into or out of the area. Company movement is one indicator of demand for rental and/or office space.
 Find a property that will be in demand. Look for a moderately priced home with three or four bedrooms, two bathrooms, and a garage that sits on a quiet street.
 Research the property. The most common way first-time investors lose is by failing to investigate a property thoroughly. Look beyond the front door. Investigate the reputation of the school district, the crime rate, and plans for expanding a nearby highway or developing vacant land. Ask a local real estate professional about the area, its history, and how fast (or slow) properties are moving.
 Inspect the home you’re considering for signs of water damage, such as stains on the ceiling and crinkling or gathering wallpaper; open and close every door and window; and check all electrical sockets by plugging in an appliance. Get an independent home inspection, roof inspection and termite inspection. Unexpected repair costs can eat away your cash flow. Because even the best inspection can’t always predict problems, try to set aside some of the rental income for unexpected repairs.
 Spend time driving the streets of the neighborhood noting the condition of other properties. Are lawns maintained? Are roofs in good shape? Are homes kept up?
 Be ready to make fixes quickly and respond to the renter’s needs. If you’re not prepared to be a hands-on landlord, consider hiring a property management firm.
 See your tax advisor for related planning and laws that can affect your investment decisions.
Remember, investing in a property is much different than living in one, and while emotion and attachment can be prime motivators when it comes to homes, it is return on investment that counts when investing in real estate.
Ralph White can be reached at 508-494-1405. Prudential Page Realty is an independently owned and operated member of The Prudential Real Estate and Relocation Services, a Prudential company. Equal Housing Opportunity.

April 5, 2010 brings new smoke detector laws to the state. To be in compliance your home must meet the following provisions on the sale of residential properties. It is recommended that any person considering selling their home make these updates at or prior to listing their property and have local fire dept. certify. If you have questions on the proper locations for these devices contact your local fire dept. to view your home and make recommendations. 

Draft as approved by the BFPR on 12-10-09 for emergency filing

On an emergency basis, the current provisions of 527 CMR 32.00, which were effective as of 2-6-09 are hereby rescinded, and the following regulation is hereby filed in its place: 527 CMR 32.00: Approved Smoke Detectors

  

32.01: Purpose and Scope 

32.02: General Requirements 

32.01: Purpose and Scope

  

Pursuant to the Board’s authority under M.G.L. c. 22D, s. 4 to develop a comprehensive fire safety code and under the general regulatory authority of M.G.L. c. 148, sections 10 and 28, the purpose of 527 CMR 32.00 is to enhance public safety by providing further technical qualification to the definitions of “Approved monitored battery power smoke detector” and “Approved primary power smoke detector”, as those words are used in M.G.L. c. 148, sections 26D, E and F. The provisions of 527 CMR 32.00 shall not apply to buildings constructed, altered or modified after January 1, 1975, which are subject to the provisions of 780 CMR, The State Building Code. 

As of April 5, 2010, 527 CMR 32.00 shall be the applicable standard for sellers to comply with the provisions of M.G.L. c. 148, s. 26F upon sale and transfer of certain buildings or structures occupied in whole or in part for residential purposes. 

32.03 Installation of smoke detectors in the vicinity of a kitchen, bathroom or

  

other areas

  

 

 

32.02: General Requirements
(1) Except for smoke detectors located in areas regulated by 527 CMR 32.03, an approved monitored battery power smoke detector shall consist of a working device, as defined in M.GL.c148, s. 26D, that is listed and employs both ionization and photoelectric technology, in either a single unit or by means of two separate units to determine an alarm condition.
(2) Except for smoke detectors located in areas regulated by 527 CMR 32.03, an approved primary power smoke detector shall consist of a working device, as defined in M.GL.c148, s. 26D, that is listed and employs both ionization and photoelectric technology, in either a single unit or by means of two separate units to determine an alarm condition.
(3) Compliance with 527 CMR 32.02 can be met by a low voltage system of wired or wireless connected listed photoelectric smoke detectors.
Draft as approved by the BFPR on 12-10-09 for emergency filing
32.03: Installation of Smoke Detectors In the Vicinity of a Kitchen, Bathroom or Other Areas.
(1) A smoke detector installed within 20 feet of an entryway to a kitchen, or bathroom containing a bathtub or shower, shall not utilize ionization technology to determine an alarm condition. The 20-foot measurement shall include and extend into common areas of a multi-family dwelling, if applicable. 

Massachusetts Association of Realtors data shows the number of single-family homes and condominiums placed under agreement by brokers last month increased by double digits – the eighth consecutive month of gains.

Tax incentives (expiring soon) coupled with record low interest rates are driving this market. Many home buyers are convinced that the worst is behind them and now is the time to buy. For some renters, this may be the one time they qualify to lock in a favorable mortgage payment so it becomes a “now or never” decision.

The number of single-family homes put under agreement in February was 3,489, up from 2,999 a year ago for a 16 percent increase.

Condos placed under agreement in February increased 25 percent compared to February of 2009 with 1,434 sales agreements last month compared to 1,147 units last year.

 Ralph White, Prudential Page Realty.

Often overlooked, some inexpensive fixes can have huge returns. The first impression of your home is obviously the outside. Power wash the home. Particularly important with vinyl siding on north sides where naturally growing mold looks unappealing. Paint the front door. A quart of paint and an hour of labor can make an added impression. Mow the lawn. I can not tell you how many times I have arrived at homes with knee-high grass, major turn-off and could cost you a sale. Plant colorful flowers at least near entrance. If you are really lazy, leaving them in a pot still makes the entry area more appealing.

Inside, paint odd colored walls back to neutral pallet. Consider replacing that beat-up carpet. Put new screws in that hinge that has been falling off for five years, although a loose cabinet door doesn’t reflect the bones of a home it may hit a sour note with a potential buyer and leaving them to wonder what else may have been overlooked or poorly maintained.

Spending a grand can go a long way toward a sale. The number one rule in marketing is “You don’t have a second chance at a first impression”  so make it count.

Centrally located between Boston & Providence makes this the ideal location to reside. Locally you have an excellent selection of shopping alternatives including Wrentham Premium Outlets, Patriot Place and Emerald Square Mall to name a few. Dozens of local restaurants from the economical to the very high-end are minutes away. If you prefer the arts or city dining experience both Boston and Providence are a thirty five minute ride. You also have the choice of two airports. Logan International, Boston or T.F. Green, Warwick/Providence. Between these two airports you have access to virtually every airline that services the northeast.

Norfolk, Massachusetts
Population: 10,600
Cost of living index: 1.38
Student-teacher ratio: 14:1
Violent crime index: 0.05

Norfolk, Massachusetts has the smallest population on our list, but this rural suburb is just 21 miles outside of Boston. At 1.38 times the national average, the cost of living is a tad on the pricey side, but Norfolk was recently recognized as one of Forbes Magazine’s “Best for the Buck” school districts.

www.ralphwhitere.com